Rich and poor thinking: 12 differences that change everything
In my twenty-five years of leadership and more than ten years of coaching experience, I have worked with countless people - those at the peak of financial freedom and those who were constantly struggling to make ends meet. My most powerful discovery was that financial success not primarily on the circumstances, but depends on your mindset.
The divide between rich and poor thinking is much deeper than many people think; it is not just about money, but affects every aspect of life. From our experience, we see that people who are able to transform their mental framework often make dramatic changes not only financially, but also in their careers and personal happiness.
What is the difference between rich and poor thinking?
Thinking rich and poor is not about how much money you have in your bank account. It's more about how you approach opportunities, challenges and yourself. This mental framework determines (or at least very significantly influences) the decisions you make, the relationships you build and ultimately the results you achieve.
Over the past decades - be it executive coaching on career processes or life coachingreason - I have found that my most successful clients all have certain common patterns of thinking. These patterns are not genetically determined; they can be learned and developed.
1. Perception of problem vs. opportunity
Poor thinking: It sees in every obstacle a problem that prevents it from moving forward. "I can't do it because..." is a common opening sentence.
Rich thinking: It discovers opportunities in the same obstacles. The question is not "why it can't be done", but "how it can be done".
The case of a former client of mine, an engineer working as a middle manager, comes to mind. When his company was restructuring, his colleagues focused on uncertainty and downsizing. However, he recognised that this was an ideal time to acquire new competencies and move to a higher position. After six months, he was already working as a division manager.
2. Attitude to learning
Poor thinking: Learning is a necessity, something you do only when you have to. Once you have finished school, you are "ready".
Rich thinking: Learning is a lifelong investment in yourself. Constantly looking for new ways to learn.
In our view, this is one of the most critical differences. In the information society, those who are able to adapt and learn new things will remain at an advantage. A CoachLab coaching processes we often find that one of the biggest breakthroughs for clients comes when they understand that knowledge is the safest investment.
3. Risk assessment and decision-making
Poor thinking: It clings to the illusion of security. He is afraid to take risks for fear of failure.
Rich thinking: You understand that the biggest risk is to take no risk at all. You take calculated risks.
This does not mean that the rich-minded are reckless - rather that they are more risk-averse. A client of mine, who worked as a lawyer, put off starting his own practice for years for the sake of "security". When he finally took the plunge, he managed to earn more in two years than he had in the previous five years as an employee.
4. Relationship with money
Poor thinking: Money is bad, or at least suspicious. "Money does not make you happy", he repeats, while constantly struggling with the lack of money.
Rich thinking: Money is a tool that creates opportunities. It is not an end in itself, but a means of freedom and choice.
In my coaching work, I regularly come across subconscious blocks that prevent people from achieving financial success. These often stem from childhood messages such as "We can't afford this", "Rich people are all bad", "Money changes people".
5. Networking and connections
Poor thinking: Relationships serve personal needs. It asks, "What can you give me?"
Rich thinking: Relationships are based on mutual value creation. It asks, "What can I give you?"
Networking is not about collecting business cards at networking events; it's about much deeper connections. People who are successful in the long term tend to have strong, supportive communities.
6. Time management and priorities
Poor thinking: He spends his time working to earn money. "He turns time into money."
Rich thinking: He builds systems that work without him. "Money becomes time."
This is perhaps one of the least understood differences, and I think one of the most important. Rich minds don't work longer - they work smarter. They automate processes, delegate, and make investments (be it training, systems or people) that save them time in the long run. Of course, they don't always know these things on their own, much of this is learned, and coaching and development has and will continue to provide a lot of help in this regard.
7. Attitudes to mistakes and failures
Poor thinking: Failure is a personal failure to be avoided at all costs. He considers failure a shame.
Rich thinking: Failure is a learning opportunity and a natural part of the path to success. Failure is seen as feedback.
In my twenty-five years of experience, I have found that the most successful leaders are the ones who are quickest to learn from their mistakes (or even from the mistakes made by others :). They succeed not because they don't make mistakes, but because they are quick to correct and adapt.
8. Objective and planning
Poor thinking: Short-term thinking dominates. Goals are often unrealistic or too general.
Rich thinking: It works with long-term visions, broken down into concrete, measurable steps.
A career coaching In the field, I regularly see that the people who get the furthest are those who can think 5-10 years ahead, while also taking conscious action on a daily basis to achieve their goals and constantly monitoring themselves or asking for help to do so. This helps them the most to stay on the planned or even designated path and not to lose their way in the meantime because of small everyday distractions, "obstacles or difficulties".
9. Attitude to competition
Poor thinking: Competition is a threat. The success of others is their failure.
Rich thinking: The competition is an inspiration and an opportunity. The success of others is proof that he can achieve it.
This is a classic case of "fixed mindset" vs "growth mindset". Those who believe that success is a limited resource are constantly on the defensive. Conversely, those who understand that the "pie" of success can get bigger and bigger are collaborative minded.
10. Expertise and advice
Poor thinking: He wants to do everything himself. He sees asking for help as a weakness.
Rich thinking: You invest in expert help. You understand that a good coach or mentor is a worthwhile investment.
We see this as one of the biggest differences. Those people, who are willing to invest coaching services or other professional development, usually get many times the return on their investment. A coachkereso.hu page, you can see that more and more people are recognising its value.
11. Passive income and investments
Poor thinking: He thinks only in terms of income from work. He considers investment a risk.
Rich thinking: Builds up more sources of income. Diversification, or having more than one foot in the door and building passive income is a priority.
This does not mean that everyone has to be a real estate investor. It can be an "investment" in your own competences, in contacts, or even in systems that deliver results in the long term.
It may seem that way, but I don't want to make a big deal out of it, it's just a good example. I have five degrees (including coaching) and I have done and am doing a lot of courses and training. And I will not stop. All paid for by myself not by my companies, which means I have invested and am investing no small amount of capital, but all of which either interested me or fitted into my current plans, but I was more interested in them.
Of course, I worked hard to create the capital, but every single one of these investments has been extremely worthwhile and if I look at the financial side of it, they have all paid off many times over. Of course, even if one of them doesn't pay off financially in the future - which I doubt - it has and will be worth a lot to me and to those I have helped or am helping professionally, emotionally, knowledgeably and in almost every other way, enriching myself and others.
I may have sounded like self-marketing, but whatever the reader thinks, for me these are great values and add a lot to my life and the lives of others in many ways... Because of the importance of the topic I couldn't leave this out, I didn't finish, but I'll stop now and let's get back to the rest of the topic...
12. Giving and generosity
Poor thinking: "I'll give when I'm rich." A mentality of scarcity prevails.
Rich thinking: Generosity is not a function of wealth. It is already sharing knowledge, contacts, opportunities.
Paradoxically, people who are already generous in their current situation often attract opportunities and people.
How to change your thinking?
The good news is that mindsets are not fixed forever. Thanks to neuroplasticity, our brains can form new patterns and overwrite old ones. But the process requires conscious effort and often external support.
Start with self-awareness
The first step is always self-awareness! Watch how you react to different situations:
- What do you think when you hear about the success of others?
- How do you assess the risks?
- What excuses do you find for the problems?
Transforming your environment
Jim Rohn famously said
"You are the average of the five people you spend the most time with." If you want to develop a rich mindset, strive to surround yourself with people who already have these patterns.Jim Rohn)
Continuous learning and development
Read biographies of successful people, listen to podcasts, take training courses. The accumulation of knowledge will gradually transform your mental framework. But we can talk if you want. No joke!
When should you seek coaching help?
In my twenty-five years of experience, I can tell you that changing minds rarely works alone. A CoachLab coaching processes we regularly find that external perspective and support accelerates this process.
In particular, you should seek coaching if:
- You have been struggling with the same financial problems for a long time
- You feel your mindset is holding you back, but you don't know how to change
- You are considered successful, but you are not satisfied with your results
- You want to accelerate your personal and professional development
Taking all this together
Between rich and poor thinking differences are not genetically determined - these are learned patterns that can be changed. The key lies in self-awareness, continuous learning and often the use of external support.
Remember: it's not about the financial situation you're in now, it's about how you think about your opportunities, challenges and yourself. These mental frameworks will determine where you go in life.
To transform your mindset and unleash your inner potential, visit the CoachLab coaching services where you will find detailed information on the different about coaching opportunities and prices.
